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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
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